WACKER’s total assets were 5 percent higher compared with December 31, 2014. They rose by € 317.2 million to € 7.26 billion as of December 31, 2015 (Dec. 31, 2014: € 6.95 billion), for several reasons. The fall in value of the euro relative to the US dollar and other currencies had a marked impact on the Group’s assets and liabilities in the reporting period. Foreign currency translation effects, especially in fixed assets, equity and financial liabilities, increased the total balance sheet by € 260 million. Property, plant and equipment increased markedly as work on construction of the polysilicon production site in Charleston, Tennessee (USA) progressed. At the same time, high capital expenditure reduced liquidity. On the equity and liabilities side of the balance sheet, there was a decrease both in provisions for pensions and, in particular, in advance payments received in connection with polysilicon contracts. The latter was due to the fact that we made the agreed polysilicon deliveries to our customers or terminated customer contracts. Group equity rose by € 549.8 million, due in part to the net income for the period, lower actuarial losses, and currency translation effects. Proceeds from the successful IPO of Siltronic AG also increased Group equity by € 361.9 million.

Combined Statement of Financial Position